April 16, 2018 / 9:28 PM / 8 months ago

Investors lose appeal in Deutsche Bank money-laundering lawsuit

A federal appeals court has declined to revive a proposed class action brought by investors accusing Deutsche Bank of concealing weaknesses in its anti-money-laundering controls that allowed its Moscow traders to launder $10 billion out of Russia.

In a decision on Friday, a three-judge panel of the 2nd U.S. Circuit Court of Appeals said the investors failed to show that the bank intentionally deceived shareholders about its controls or recklessly ignored signs of suspicious trading in Moscow.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2JRZ8K0

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